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       R. Acceptance of Interim Financial Rept for the University of
Kentucky for the Eleven Months Ended May 31. 1991 (FOR 1)

      Mr. Ockerman, Chairman of the Finance Committee, reported that FCR 1
is a routine report and stated that everything in the report is in order.
Mr. Wilcoxson made a motion that the report be approved. Mr. Rose seconded
the motion and it passed. (See FCR 1 at the end of the Minutes.)

       S. Disposal of Personal Propertv (FOR 2)

       With Mr. Ockerman so recommending, Mr. Stricker moved that the Board
approve the Disposal of Personal Property as described in Exhibit I. The
motion, seconded by Mr. Lohman, passed. (See FCR 2 at the end of the
Minutes.)

       T. Capital Construction Report (FOR 3)

       Mr. Ockerman reported that the Capital Construction Report is a
detailed report for the nine months ending March 31, 1991, and the Finance
Committee recommends its approval. Mr. Sturgill so moved. His motion was
seconded by Mr. Farmer and carried. (See FCR 3 at the end of the Minutes.)

       U. Report of Leases (FCR 4)

       On motion made by Mr. Bates, seconded by Professor Rhoads and
carried, the Board approved the Report of Leases, authorizing the President
or his designated representative to enter into leases and easements not
exceeding $30,000 in value. (See FCR 4 at the end of the Minutes.)

       V. Approval of Leases (FOR 5)

       Mr. Ockerman reported that FCR 5 relates to the renewal of five
leases and stated that the Finance Committee recommends approval. Mr. Rose
moved and Mr. Farmer seconded the motion that the five leases be renewed.
The motion carried. (See FCR 5 at the end of the Minutes.)

       Mr. Ockerman stated that FCR 6 is the Operating Budget and would be
considered as the last item on the agenda.

       W.  Patent Assignment (FCR 7)

       Mr. Ockerman stated that FCR 7 is a routine patent assignment which
is in keeping with the policy of the University of Kentucky and is
recommended for approval by the Finance Committee. Judge Wilhoit so moved.
The motion, seconded by Senator Huddleston, passed. (See FCR 7 at the end
of the Minutes.)

       X. Acceptance of Gift from the James Graham Brown Foundation (FOR 8)

       Mr. Ockerman expressed pleasure in recommending approval of four
outstanding gifts, the first being from the James Graham Brown Foundation in
the amount of $500,000 to the Sanders-Brown Center on Aging to be used to
initiate a $13 million building campaign for new clinical, research and
educational facilities. Mr. Bates so moved. Mr. Bates' motion was seconded
by Dr. Meriwether and unanimously carried. (See FCR 8 at the end of the
Minutes.)